Business & Finance

Software Consulting Market is projected to be driven by growing digitalization in business processes is the key factor expected to drive the market

Press Release

Software consulting is the process of recommending on providing the most suitable software solutions in accordance to the enterprise’s business model. Enterprises are looking for different software solutions for lining up their technological investment. In the software consulting process, a software consultant is hired as a contractor for a specific period of time. Software consulting providers’ help companies optimize, design, process, architect and implement software. Furthermore, these services help companies in decision making processes regarding software technology and their investment strategy for software adoption. It also allows companies to build a clear plan for technological growth and finding creative solutions for streamlining business processes. Software consulting firms offer various services including technical expertise for upgrading and maintaining software, support & testing services, onsite management service, and system designing and planning services.

Software consulting is the time saving process of finding the software solution for optimizing company’s operation. Software consultants understand the business domain and business model. Based on this information, they advise enterprises about software solutions that are important for their technological growth and that can add value to their business either through new solutions, improved IT architecture, or by creating better integration between existing solutions. Enterprises are hiring third-party service provider for their technological upgrades. The service providers analyze the technological growth of the software of a company.

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To sustain in the fast changing technological world, many companies are dependent on software consulting services. Growing digitalization in business processes is the key factor expected to drive the market. Additionally, offshoring and globalization are expected to fuel demand for consulting services. Enterprises are expected to adopt new technologies such as cloud computing solutions and mobile computing solutions which will in turn lead to growth in the demand for consulting services. Irrespective of strong factors driving the software consulting market, there are some major restraint that might create hindrance in the growth of the software consulting market. Such restraints includes, the inability to meet clients’ expectations and lack of technical expertise. Also cultural conflicts, business transition, and integration issues are expected to hinder the software consulting market. Rise in the number of small-medium enterprises and increase in demand for more advance software solutions are expected to create new market opportunities for developing effective business model in software consulting.

The global software consulting market can be segmented based on type, enterprise size, end- user, and geography. Based on type, the software consulting market can be categorized into design services, software security services migration & maintenance services, and application testing services. Software services are expected to be a rapidly expanding segment due to increasing use of cloud server to store data. Based on enterprise size, the software consulting market can be segmented into large enterprises and small-medium enterprises. Large enterprises is anticipated to be a dominant segment in terms of revenue in the software consulting market. To maintain market position in a highly competitive environment, demand for software consulting is expected to increase among large enterprises. In terms of end-user, the software consulting market can be categorized into BFSI, government, IT & telecom, retail, automotive, education, health care, and manufacturing.

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Based on geography, the software consulting market can be segmented into South America, Asia Pacific, Middle East & Africa, Europe and North America. North America is expected to be a dominant region in terms of revenue. Enterprises operating in North America are digitizing the business processes, which, in turn, has increased their investment in multiple enterprise software. In order to effectively select as well as deploy the enterprise software, these enterprises are turning toward software consultancy firms. Asia Pacific is expected to be a rapidly expanding region of the software consulting market.

Key players operating in the software consulting market include Deloitte Touche Tohmatsu Limited, Atos SE, IBM Corporation, CGI Group Inc., Accenture, Capgemini SE, Cognizant, Oracle Corporation, Ernst & Young Global Limited, PricewaterhouseCoopers (PwC), and SAP SE.

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